Global brokerage firms have maintained either buy or outperform ratings on the following five stocks after these companies announced earnings last week.
The Nifty50 reclaimed its crucial resistance level of 8,500 supported by gains in realty, power, oil & gas, metal, consumer durable, and banking stocks.
The week is unlikely to favour the bulls, at least till the results of the US presidential elections are out. Global markets are also likely to remain volatile.
MF managers pumped in over Rs 1.78 lakh crore into debt market during April-October, primarily on account of strong participation from retail investors.
If the index slips below the 8,400 level, then technical indicators shall slip into the oversold zone, which may result in a sharp bounceback in the indices.
MACD is one of the most effective momentum indicators that can be used to spot a change in the market’s short-term trend. Nifty50 slipped over 80 points.
If the new tax rates will be lower than current rates certainly it will have a positive effect on stock price. The market will also look forward to the robustness of IT system.
Maximum Call open interest of 56.02 lakh contracts stood at strike price 9,000, which will act as a key resistance for the index in the November series.
Generally, a hike in promoter holdings has always been taken positively by investors, but it should not be taken as a ‘thumb rule’ to invest in a stock.
The Nifty50 was trading below its crucial resistance level of 8,500, weighed down by losses in realty, IT, consumer durable, capital goods, and auto stocks.
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